Former Deputy Governor of the Bank of England Sir David Clementi is the new Chair of the BBC.
Clementi has zero broadcasting experience but graduated from Harvard Business School and has spent his entire career in finance – something which should come in handy to help the corporation save £800m by 2020.
The new position has been created as a result of the BBC’s new unitary board being created to replace the BBC Trust from April 1st.
The 67-year-old was chosen from a shortlist of three, chosen by PM Theresa May. John Makinson, chair of book publisher Penguin Random House, and Deirdre Hutton, chair of the Civil Aviation Authority were also in the running.
In October 2011 he became Chairman of Virgin Money and he is currently the Chairman of International Payments business, World First. He’ll be working three days per week for a salary of £100,000-a-year.
BBC Trust Chair Rona Fairhead has wished him well, saying: “Hearty congratulations to Sir David for becoming the Government’s preferred candidate for the new BBC Chairmanship. I wish him, the new Board and the BBC every possible success.”